Official Opening of Boralex's First Wind Farm in France

Avignonet (France), September 18, 2003 - Almost two years after Boralex (the "Corporation") and the French company Séris S.A. signed an agreement to build and operate a wind-powered generating facility, the Séris Éole S.A.S. in which Boralex holds a majority interest of 65% through its French subsidiary Boralex S.A., is opening its first wind farm, in the Avignonet-Lauragais region of southern France.

The Avignonet-Lauragais wind farm, which generates energy using the prevailing d’Autan and Cerf winds, had its commercial start-up in November 2002 and has a 15-year contract to sell electricity to Électricité de France (EDF).

Built at a cost of €9.1 million (C$14 million), the facility has ten wind turbines with a total installed capacity of 8.0 MW, for annual production of 20.0 GWh. This will increase to 12.0 MW with the addition of two more 2,000 kW turbines by fall of 2004.

"The rapid development of Boralex's wind energy sector is an indication both of the Corporation's financial credibility among its experienced partners and of its solid expertise in producing renewable and green energy. This is a very promising area that will definitely constitute a key asset for Boralex," said Bernard Lemaire, Chairman of the Board and Chief Executive Officer of Boralex Inc.

Spearheading Boralex's wind energy production in France, the Avignonet-Lauragais wind farm is no longer the Corporation's only wind power facility to be built there. Ferme Éolienne de Chépy S.A.S, in which Boralex holds a majority interest of 85%, began today the construction of two wind turbines with a total capacity of 4.0 MW at Chépy, in the Somme region. This project will require an investment of about €5 million, or C$8 million, by the time it's completed.

Boralex operates twelve wood-residue, natural gas cogeneration, hydroelectric or wood turbine thermal energy producing stations in Québec, the United States and France. Also, Boralex Power Income Fund, which is managed by Boralex and in which Boralex holds an important participation, operates eight hydroelectric, thermal or wood-residue as well as natural gas cogeneration energy producing stations in Québec. Together, these two entities have more than 230 employees and have a total installed capacity of more than 360 MW. Boralex's stock trades on the Toronto Stock Exchange under the ticker symbol BLX.A and Boralex Power Income Fund's stock trades under the ticker BPT.UN.



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For further information, please contact:

Mrs. Carole Villeneuve
Communications Director
Boralex Inc.
Telephone : (514) 985-1353 in Canada / 03 21 98 77 00 in France
Fax : (514) 985-1355 in Canada /03 21 98 77 29 in France
E-mail : cvilleneuve@cascades.com

Mr. Claude Audet
President and Chief Operating Officer
Boralex Inc.
Telephone : (819) 363-5860
Fax : (819) 363-5866
E-mail : caudet@cascades.com

Mr. Nicolas Fontaine
Director, Finance
Boralex Inc.
Telephone : (514) 282-2647
Fax : (514) 985-1355
E-mail : nfontaine@cascades.com